H.G. Infra Engineering on Wednesday announced that it has been declared as the Lowest Bidder for a railway project by Rail Vikas Nigam Ltd (RVNL).

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RVNL had given an estimated cost of Rs 535.2 crore, while HG Infra’s bid came in at Rs 466 crore. Hence, HG Infra was declared as the lowest bidder.

The project consists of the construction of foundations, substructure & superstructure along with river training/protection work, earthwork & allied works for viaducts 1 & 2 in between chainage km 47+415 to km 50+900, in connection with Bhanupali-Bilaspur-Beri new railway line in Bilaspur, Himachal Pradesh.

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Last month, the construction engineering giant received a Letter of Acceptance from Delhi Metro Rail Corporation (DMRC) for a project worth Rs 399 crore.

Prior to that, last year in December it received a Letter Of Award for a project in Haryana from the National Highways Authority of India (NHAI). NHAI's estimated cost of the Project stood at Rs 744 crore while HG Infra's Bid for the project was Rs 997.1 crore.

HG Infra’s stock price settled at Rs 719 per share when the market closed today.

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First Published:Feb 22, 2023 9:33 PM IST